95% slump in leisure bookings for London Olympics
Leading inbound tour operators to the UK have revealed revised figures to those released earlier this week indicating that they are experiencing an average 95% downturn in bookings during the London Olympic period next year with some reporting plummeting sales of nearly 100% for August 2012.
According to the latest survey by the European Tour Operators Association (ETOA) amongst 38 of its foremost members (responsible for 2,000,000 tourists per year, representing over £2Bn in export revenue to the UK economy), the figures indicate a dramatic slump in leisure visitors and income for satellite venues around the country and the capital city.
Previous research conducted by ETOA has identified what it calls a “bubble” in the London hotel market, where inflated prices for hotel accommodation and un-economic terms and conditions are deterring not only leisure visitors but also sports fans that they are seeking to attract.
This new data suggests that ETOA Executive Director, Tom Jenkins, has been correct in his assessment of the current and future situations. He says, “The expectations of visitor numbers currently circulating within the hotel industry are hugely inflated. If UK businesses are basing their plans on data in some prominent visitor forecasts, London will suffer financially, as has been experienced by previous host cities.”
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